In short
- Federal Reserve Board had a Written Agreement with SNB Bancshares and Bank of Eufaula dated August 7, 2024.
- Federal Reserve Board announced the termination at 11:00 a.m. EDT on September 18, 2026.
What happened
The Federal Reserve Board announced that it has terminated the enforcement action involving SNB Bancshares, Inc. and Bank of Eufaula, both located in Eufaula, Oklahoma. The action was originally formalized through a Written Agreement dated August 7, 2024.
The termination of the enforcement action occurred on September 3, 2026, and was publicly disclosed by the Federal Reserve Board in a press release issued at 11:00 a.m. EDT on September 18, 2026.
SNB Bancshares, Inc., Eufaula, Oklahoma, and Bank of Eufaula, Eufaula, Oklahoma Written Agreement dated August 7, 2024 (PDF) Terminated September 3, 2026
Named in this item
Organization, regulator US — —
What compliance teams should check
- Review the Written Agreement dated August 7, 2024 for SNB Bancshares, Inc. and Bank of Eufaula.
- Update internal compliance records to reflect the termination date of September 3, 2026 for SNB Bancshares and Bank of Eufaula.
- Search for additional enforcement actions using the Federal Reserve Board's enforcement actions database.
Why it matters
The termination of the enforcement action by the Federal Reserve Board signals that SNB Bancshares and Bank of Eufaula have addressed the issues outlined in the Written Agreement dated August 7, 2024. Compliance officers should note the resolution and update their monitoring and risk assessments accordingly. This development may affect ongoing due diligence, risk ratings, and regulatory reporting for these entities, and highlights the importance of tracking enforcement actions and their outcomes for AML/CFT compliance programs.
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